The Affordable Care Act and Individual Tax Returns

January 28, 2015
The Affordable Care Act and
Individual Tax Returns
The Affordable Care Act has brought some changes to the 2014 federal income tax return that individuals file in
2015. This will be the first time that taxpayers will be asked to report health care coverage.
The Affordable Care Act requires that each member of a family have qualifying health insurance coverage for
each month of the year, qualify for an exemption from the coverage requirement, or make an individual shared
responsibility payment when filing their federal income tax return.
In response to the requirement of qualifying health insurance coverage, we are seeing a growing number of calls
from our clients asking for a proof of coverage form for employees who are in the process of preparing their tax
returns. Most taxpayers will simply check a box on their tax return to indicate that each member of their family
had qualifying health coverage for the whole year. No further action is required.
The IRS does not require taxpayers to submit documentation of health coverage with their tax returns.
Since no documentation is required, Cypress will not be issuing special proof of coverage forms nor is it the
responsibility of the employer.
The IRS has issued updates on how the Health Care Law will affect this year's tax return:
 Affordable Care Act - What to expect at tax time?
 Gathering Your Health Coverage Documentation for the 2014 Tax Filing Season
 The Health Care Law and Your Taxes
 Affordable Care Act and Taxes - At a Glance charts
o How it Affects You
o How it Affects Your Tax Return
For more information on this and other industry topics or Cypress services, please contact:
Greg Berth
Appleton, WI
(877) 236-0844
[email protected]
Amy Barnwell
Portland, OR
Salem, OR
(800) 277-8579 (855) 351-0582
[email protected]
Andrew Rozmiarek
Denver, CO
(877) 236-0844
[email protected]
Julie Kohanek, RHU
Omaha, NE
(800) 223-5508
[email protected]
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